US Structural Shift
In 2026, the U.S. internet capital market is undergoing a fundamental structural shift. The advancement of the GENIUS Act and the introduction of joint regulatory guidance from the SEC and CFTC provide regulatory clarity for public blockchain-based capital markets. Meanwhile, institutional adoption is accelerating with traditional financial giants such as J.P. Morgan and State Street conducting live transactions on the Solana blockchain, validating the feasibility of public blockchains for asset tokenization and settlement efficiency.
Strategic Window for Asian Institutions
Against this backdrop, Asian institutions face a critical strategic window. Given varying levels of regulatory maturity across the region, institutions must adopt a phased approach: pilot in jurisdictions with open regulatory frameworks, and focus on research and preparation in more cautious environments. Overall, 2026 marks the transition of global internet capital markets from proof-of-concept to scalable deployment, with the U.S. taking the lead. How Asia responds will be a key focus of the next market phase.